Starting a business can be intimidating; especially when we think about the potential risks. But what if I told you there are business models that require minimal investment, have low risk business models, and can still earn you up to $10k a month? Whether you’re looking to dip your toes into entrepreneurship or scale your side hustle into something big, this blog will dive deep into 22 low-risk business ideas that can help you achieve financial freedom without betting the farm.
Stating with easy to hard.
1. Print-on-Demand (POD) – First step to start
Print-on-demand is a straightforward e-commerce model where you sell custom-designed items like t-shirts, hoodies, mugs, or even phone cases. The beauty? You don’t handle inventory or shipping—third-party suppliers do it all.
Demand and Insights: The custom apparel market is booming. From quirky slogans to personalized gifts, people love unique items. It’s an evergreen market that thrives on creativity.
How to Start and Grow: To start, create an account on a POD platform like Printful or Redbubble. Focus on niche designs that cater to specific groups (e.g., dog lovers, fitness enthusiasts). Market your designs on social media or through ads. Once you have a few winning designs, scale by adding more products or expanding into new niches.
2. Affiliate Marketing
Affiliate marketing lets you earn commissions by promoting products. You don’t need to create products or handle customer service; you just recommend things you believe in and earn a cut when someone buys through your link.
Demand and Insights: This market is huge, especially in the blogging, YouTube, and social media world. There’s an affiliate program for almost every product imaginable—from tech gadgets to skincare.
How to Start and Grow: Start by choosing a niche you’re passionate about. Sign up for affiliate programs (Amazon Associates, ShareASale, etc.), and begin creating content that solves problems. Write reviews, create tutorials, or showcase your favorite products on social media. To grow big, focus on building an audience that trusts your recommendations, and experiment with different affiliate networks to maximize your income.
3. Digital Products
Selling digital products like eBooks, online courses, stock photos, or even website templates lets you create something once and sell it over and over again.
Demand and Insights: The e-learning market alone is predicted to hit $325 billion by 2025. With people always looking for ways to improve their skills, there’s endless potential.
How to Start and Grow: Pick a niche you’re skilled in and create a valuable product that solves a problem. Platforms like Gumroad, Teachable, or Etsy are great for selling digital products. Offer free content or mini-versions of your product to build an email list, then nurture your audience into paying customers. As demand grows, add new products or bundle existing ones for higher-priced offers.
4. Freelance Services
Freelancing allows you to offer skills like graphic design, writing, programming, or video editing to clients. It’s flexible and requires almost no startup capital.
Demand and Insights: Businesses are always looking to outsource tasks. The freelance economy is growing, with more companies turning to freelancers for short-term projects.
How to Start and Grow: Begin by creating profiles on platforms like Upwork or Fiverr. Offer competitive rates to build a client base, and gather testimonials as you go. Over time, increase your rates and start offering premium services (e.g., social media management with strategy, or custom design packages) to make $10k per month achievable.
5. Social Media Management
If you know your way around Instagram, Facebook, and TikTok, businesses will pay you to manage their social media accounts. You’ll handle content creation, posting, and engagement strategies.
Demand and Insights: Every business, from local restaurants to large corporations, needs a strong online presence. With over 4.7 billion social media users globally, there’s no shortage of demand.
How to Start and Grow: Build a portfolio by managing social accounts for free or discounted rates at first. Once you have a few successful case studies, you can scale by taking on multiple clients or even offering full social media marketing packages, including paid advertising and influencer collaborations.
6. Subscription Boxes
Subscription boxes are a fantastic way to deliver curated products to customers each month. From snack boxes to beauty items, there’s no limit to what you can offer.
Demand and Insights: The subscription box industry has exploded, with a projected market size of $47 billion by 2027. People love convenience and surprises, making this a hot niche.
How to Start and Grow: Research a niche and curate a selection of products that would excite your audience. Build a simple website using platforms like Shopify, and partner with suppliers. To grow big, focus on delivering a great experience (e.g., custom packaging, exclusive products) to encourage repeat subscribers and referrals.
7. Dropshipping – Goldmine for Brilliant
Dropshipping allows you to sell products online without ever handling inventory. When a customer buys something, you forward the order to a supplier, who ships it directly to the buyer.
Demand and Insights: Dropshipping remains popular because of its low risk and relatively low upfront costs. You can sell anything from gadgets to home goods, depending on your chosen niche.
How to Start and Grow: Create an online store using Shopify, and connect with suppliers through platforms like Oberlo or AliExpress. Start by testing products and advertising through social media. To grow, identify best-sellers and invest more in marketing. Eventually, you could even develop your own branded products to increase profit margins.
8. Online Coaching
If you have expertise in fitness, business, personal development, or any other field, coaching is a great way to share your knowledge and make money.
Demand and Insights: People are always looking for guidance to improve their lives, whether it’s in health, career, or relationships. Online coaching offers a high level of personalization, making it a sought-after service.
How to Start and Grow: Start by offering free or discounted sessions to build a reputation and testimonials. Use platforms like Zoom or Google Meet for sessions, and create a simple website to promote your services. As you gain more clients, consider offering group coaching or pre-recorded courses to scale your business and reach that $10k mark.
9. SEO Consulting
SEO consultants help businesses rank higher on search engines like Google by optimizing their websites and content.
Demand and Insights: SEO is essential for any business that wants to grow its online presence. With more companies moving online, SEO expertise is highly valuable.
How to Start and Grow: Take a few SEO certification courses, and start offering your services to small businesses or freelance clients. As you gain more experience and results, increase your pricing. To scale, consider offering full SEO audits, ongoing retainers, or even training sessions for in-house marketing teams.
10. Blogging
Blogging involves creating content on a specific topic and earning money through ads, sponsored posts, affiliate marketing, or selling products.
Demand and Insights: While it takes time to build an audience, blogging is still one of the most scalable and rewarding low-risk businesses. People are always searching for information, and if your blog provides value, the potential for income is significant.
How to Start and Grow: Choose a niche you’re passionate about, set up a blog using WordPress, and start writing valuable content. To grow, focus on SEO, build an email list, and monetize through various streams like ads or your own products.
11. Virtual Assistance
Virtual assistants (VAs) handle tasks like email management, scheduling, research, and social media for businesses and entrepreneurs.
Demand and Insights: The VA industry is growing rapidly as more companies go remote and need help with day-to-day operations.
How to Start and Grow: Start by offering VA services on platforms like Upwork or creating your own website. Build a portfolio of testimonials, and once demand grows, scale by hiring other VAs to work under you, turning your solo gig into an agency.
12. Content Creation (YouTube/Podcasting)
Content creation is all about producing valuable and entertaining content for platforms like YouTube or through podcasting. Once you build an audience, you can monetize through ads, sponsorships, and affiliate marketing.
Demand and Insights: Video content is in huge demand. YouTube is the second-largest search engine, while podcasts are growing in popularity as a convenient way to consume content.
How to Start and Grow: All you need is a decent camera or microphone to get started. Create content around topics you’re passionate about, build an audience, and start monetizing through ads, affiliate marketing, or sponsored content. The more valuable and engaging your content, the faster you’ll grow.
13. Online Marketplace Flipping
Marketplace flipping is about buying items at a low price (usually second-hand) and reselling them for a profit on platforms like eBay or Facebook Marketplace.
Demand and Insights: People love a good deal, and many are willing to pay more for refurbished or unique items. This is especially true for vintage goods, collectibles, and gadgets.
How to Start and Grow: Begin by sourcing items from garage sales, thrift stores, or online auctions. List them on online marketplaces with professional photos and descriptions. As you grow, you can niche down into specific product categories to increase your profit margins.
14. Influencer Marketing
As an influencer, you promote products or services to your audience in exchange for compensation from brands. You don’t need millions of followers—micro-influencers (10k-50k followers) are highly sought after for their engagement rates.
Demand and Insights: Brands are increasingly turning to influencers to reach niche audiences in an authentic way. This trend shows no signs of slowing down.
How to Start and Grow: Build a social media following in a niche that you’re passionate about. Engage with your followers and consistently post valuable content. As your audience grows, brands will start approaching you, or you can pitch yourself to companies in your niche.
15. Pet Sitting and Dog Walking
Pet sitting and dog walking services are always in demand, especially in urban areas. If you love animals, this is a fun, flexible, and low-risk business to start.
Demand and Insights: With more people working long hours or traveling, the need for reliable pet care is growing. You can charge anywhere from $20 to $60 per day for pet sitting, depending on the location.
How to Start and Grow: Start by offering your services to friends and neighbors, and use platforms like Rover or Wag to find clients. Build a solid reputation, and soon you’ll have loyal, repeat customers. To scale, you can even start a pet care agency with other sitters under your umbrella.
16. Renting Assets (Cars, Equipment, Tools)
Do you own something valuable that you’re not using all the time? From cars to cameras to power tools, there’s a market for renting these assets to others.
Demand and Insights: Many people would rather rent than buy expensive items, especially if they only need them temporarily. Peer-to-peer renting is becoming more popular, thanks to platforms like Turo and Fat Llama.
How to Start and Grow: List your assets on rental platforms and start earning money passively. You can expand by purchasing more assets or renting out other people’s items for a commission.
17. Etsy Store for Handcrafted Items
If you’re crafty, Etsy is the perfect platform to sell your handmade goods. Whether it’s jewelry, home décor, or personalized gifts, you can turn your passion into a profitable business.
Demand and Insights: Etsy has a large audience of people looking for unique, handmade items. The marketplace is especially popular around holidays and special occasions, making it a lucrative space for artisans.
How to Start and Grow: Set up an Etsy store and start listing your creations. Focus on high-quality photography and descriptions to make your products stand out. To grow, consistently add new items, run Etsy ads, and build a loyal customer base by offering great customer service.
18. Tutoring
If you’re skilled in a subject like math, science, or a foreign language, online tutoring can be a great way to make money from home.
Demand and Insights: With more students opting for online learning, the demand for personalized tutoring has skyrocketed. Parents and students are willing to pay good money for one-on-one attention.
How to Start and Grow: Register on platforms like TutorMe or Wyzant, or create your own website offering tutoring services. Build a reputation with positive reviews and word-of-mouth referrals. As you grow, consider offering group sessions or creating video tutorials for passive income.
19. App Development
If you’re a coder or have an interest in tech, app development can be incredibly lucrative. You can either offer your services to clients or build your own apps and monetize them.
Demand and Insights: The app economy is booming, with more businesses and individuals needing apps for everything from entertainment to productivity.
How to Start and Grow: Build a portfolio by developing simple apps and offering your services to small businesses or startups. You can also create your own app and monetize it through ads or in-app purchases. As you grow, consider partnering with other developers or expanding into different types of apps.
20. Real Estate Wholesaling
Wholesaling involves finding properties that are under market value, putting them under contract, and selling the contract to an investor for a fee. You don’t need to buy the property yourself.
Demand and Insights: With the real estate market always in flux, there are plenty of opportunities for wholesalers to make money by finding undervalued properties.
How to Start and Grow: Learn the basics of real estate wholesaling through online courses or mentorship programs. Start by networking with local investors and learning how to find good deals. As you gain more experience, you can expand into different markets or scale by hiring a team.
21. Renting Storage Space
If you have extra space in your garage or basement, renting it out as storage space can be a low-effort way to make passive income.
Demand and Insights: With urban areas becoming more crowded, people are constantly looking for affordable storage solutions. Platforms like Neighbor make it easy to connect with people in need of storage.
How to Start and Grow: Sign up on storage rental platforms, or offer your space through local classifieds. As demand grows, you could expand by renting multiple spaces or even purchasing additional properties specifically for storage.
22. Cleaning Services
Cleaning services are always in demand—whether it’s for homes, offices, or Airbnb rentals. This is one of the most reliable and low-cost businesses you can start.
Demand and Insights: The cleaning industry is growing steadily, especially with more people wanting deep cleaning services post-pandemic.
How to Start and Grow: Start small by offering your services to friends and neighbors, then expand by creating a website or listing on platforms like Thumbtack or TaskRabbit. To scale, hire a team and offer specialized services like carpet cleaning or commercial cleaning.
Wrapping It All Up
So there you have it; 22 low-risk business models that can help you earn up to $10k per month! Whether you’re looking for a side hustle or a full-time venture, each of these ideas offers flexibility, low startup costs, and the potential to grow big. The best part? You don’t need a ton of experience or capital to get started. With a bit of effort and smart planning, you can turn any of these ideas into a profitable business that fits your lifestyle.
Now, which one will you start with?